Student Loans

Parent Plus Loans

Parent PLUS Loans provide federal loans to qualified parents of dependent students. Parents may borrow up to the cost of attendance minus financial aid. Once your Parent Plus Loan has been accepted and originated a Master Promissory Note (MPN) will be required.

If the parent is denied a Parent PLUS Loan based on credit the student is eligible for additional Unsubsidized Loan.

Undergraduate Student Loans

To apply for the loans indicated below, the Free Application for Federal Student Aid (FAFSA) is required.

Nursing Student Loan

These loans are a low interest (5%) loan from the federal government and Fitchburg State. Interest charges and repayment begins nine months after the student graduates, withdraws or drops below half-time status. Repayment can be extended for as long as ten years.

Federal Direct Stafford Loan

Federally guaranteed student loan administered by the University. Subsidized Direct Loans are need-based loans whose interest is paid by the government while the student is enrolled at least half-time. Students are responsible for the interest on an Unsubsidized Direct Loan for the life of the loan. Repayment of principal begins six months after the student graduates, withdraws or drops below half-time status.

Annual Direct Stafford Loan Limits

Grade Level Dependent Independent
Freshman $5,500 $9,500
Sophomore $6,500 $10,500
Juniors/Seniors $7,500 $12,500
Graduate Students   $20,500

These loan limits include both subsidized and unsubsidized amounts and cannot exceed your cost of attendance minus other financial aid. You are required to complete a Master Promissory Note (MPN) and Entrance Counseling online. For more information, visit the Federal Student Aid website.

Graduate Student Loans

Federal Direct Stafford Loan

The Federal Direct Stafford Loan is a federally guaranteed student loan administered by the University. Students are responsible for the interest on an Unsubsidized Direct Loan for the life of the loan. Repayment of principal begins six months after the student graduates, withdraws or drops below half-time status.

Annual Direct Stafford Loan Limits

Grade Level Dependent Independent
Graduate Students   $20,500

This loan limit cannot exceed your cost of attendance minus other financial aid. To apply, please complete the Free Application for Federal Student Aid (FAFSA).

All new borrowers are required to complete a MPN (Master Promissory Note) and Entrance Counseling online.

Direct Loan Deferments for Volunteer Services

If you have volunteered in either the Peace Corps or Action Programs, you may be eligible for a deferment of your federal direct student loan(s). For more information or to download a deferment request form go to the Federal Student Aid Website.

Alternative Student Loans

The loans listed on Elm Select were in response to a request by the Financial Aid Office to the education lending community to provide information about their loan programs. The Financial Aid Office has listed the programs based on competitive interest rates, borrower benefits, and customer service history. You are not obligated to choose your loan only from those lenders listed. This tool allows students to compare the current terms and benefits of selected lenders' loan products and provides links to the necessary disclosure statements and applications. To view and apply for an Alternative Loan click Elm Select. Under school search enter Fitchburg State University and select either Undergraduate or Graduate for your program.

We strongly suggest that students and parents exhaust their loan options through FAFSA prior to taking private student loans.

Federal student loans can be a better option for you with their fixed interest rates, future payment postponement possibilities, loan forgiveness options, and various repayment plans. Subsidized direct loans are not charged interest while you are enrolled in school.

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